This article on How to Select the Right Technical Indicators is the opinion of Optimus Futures.
Most traders’ endeavors and their learning curves involve at least a few periods where they have been obsessed with technical indicators. It is a rather intuitive and natural progression, albeit a potentially costly one. As technical traders explore the realms of technical analysis, the fine line between having enough indicators that aid in decision making versus having far too many can often be unintentionally crossed.
While trading naked charts (i.e. without indicators) is not always advisable for newer traders who can benefit from following some of the useful technical indicators, it is perhaps just as ineffective by polluting your charts with multiple indicators that erode the simplistic nature of everyday chart analysis.
Let’s take a look